Timah gives Rp308 billion as 2010 dividend to government
Tuesday, July 26 2011 - 03:17 AM WIB
State-owned tin miner PT Timah (Persero) has given the Government a dividend of Rp 308.1 billion (1US$ = Rp 8,530) for the 2010 period, the company said in an announcement on Monday.
PT Timah booked a net profit of Rp. 947.9 billion during 2010, which was 203% higher compared to the 2009 net profit of Rp.313,8 billion, thanks to higher tin price, especially in the second half of 2010.
Indonesia government has a 65 percent stake in PT Timah, with the remaining 35 percent being owned by the public.
As the largest tin mining company in Indonesia, as well as being the world largest tin exporter, PT Timah (Persero) Tbk has tin mining rights over 522,460 hectares of mining area with a total number of 114 mining licenses, both onshore and offshore The area of operation encompasses the Bangka Belitung and Riau Islands provinces. (denny)